Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / 1) Which is an example of failure competitive markets to provide the socially optimal amount? a) There is usually a surplus of tickets for events at the summer Olympics

1) Which is an example of failure competitive markets to provide the socially optimal amount? a) There is usually a surplus of tickets for events at the summer Olympics

Marketing

1) Which is an example of failure competitive markets to provide the socially optimal amount?

a) There is usually a surplus of tickets for events at the summer Olympics.

b) The price of gasoline has risen dramatically as a result of the increasing demand, limitations on supply, and oligopoly in the oil industry.

c) Bees help to pollinate neighboring orchards as well as providing honey to the beekeeper.

d) Declining prices of houses are leading to an increase in sales.

2. A good or service that a business can charge for, and consumption by one person does not reduce the ability of other to consume the same product is considered a:

a) public good.

b) quasi-public good.

c) private good.

d) public-private partnership.

3. Government policy responses to negative externalities in a market are:

a) higher taxes and restrictive regulation.

b) higher taxes and mandates to increase use of the product.

c) subsidies and mandates to increase use of the product

d) subsidies and restrictive regulation.

4. The distribution of wealth in the United States is:

a) less equal than the distribution of income.

b) more equal than the distribution of income.

c) about the same as the distribution of income.

d) depends on the measure of wealth and income used for comparison.

5. Supporters of a higher minimum wage could argue that this would not involve higher unemployment by referring to:

a) a supply and demand model of the labor market.

b) studies of fast food restaurants that show no change in employment with higher minimum wages.

c) both the supply and demand model of the labor market and studies of fast food restaurants that show no change in employment with higher minimum wages.

d) the U.S. constitution.

6. The theory of human capital best explains the difference in earnings of:

a) men and women.

b) blacks and whites.

c) college graduates and high-school drop-outs.

d) auto workers and garment workers.

7. The concept of diminishing marginal utility of income can support redistribution of income to make the distribution of income more equal. This concept says that:

a) lower income individuals have less overall satisfaction than higher income individuals.

b) higher income individuals have less overall satisfaction than lower income individuals.

c) the additional satisfaction from having more income is less for low-income individuals than higher income individuals.

d) the additional satisfaction from having more income is less for high-income individuals than lower income

8. When the Lorentz curve for income is closer to the sides of the graph:

a) there is more unequal distribution of income;

b) there is more equal distribution of income;

c) there are more social welfare and social insurance programs;

d) the Lorentz curve is always on the diagonal.

9. Government programs that redistribute income but have no income or wealth limits are:

a) social welfare programs;

b) social insurance programs;

c) both social welfare and social insurance programs;

d) neither social welfare nor social insurance programs

Option 1

Low Cost Option
Download this past answer in few clicks

2.88 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE